With iPhone 6 expected soon, iPhone 5 gets price cut

As rumors circulate about an upcoming iPhone 6, Wal-Mart and other retailers started slashing the prices of iPhone 5 models on Friday.

Wal-Mart, for instance, cut the cost of the 16-gigabyte iPhone 5c to $29 with a two-year contract, from $49. The 16 GB iPhone 5s, meanwhile, now goes for $99, down from $149.

These prices, however, are only available in-store and not online, according to media reports. “We’re just providing our customers with the technology that they’re looking for,” a Wal-Mart (WMT) spokeswoman told ABC News.

Costco and Best Buy are also slashing the price of the iPhone 5 series. Costco (COST) is now selling the 16 GB 5S for $78 after a $120 discount.

Best Buy (BBY), meanwhile, is offering a 16 GB iPhone 5S for $99 with a two-year contract (after a $100 price cut). The deal is limited to contracts with Verizon (VZ) and Sprint (S).

The phone price cuts come amid increased speculation that Apple (AAPL) will introduce an iPhone 6 in September. The big-screen phone is said to have a 5.5-inch screen (as opposed to the current 4-inch display), according to Investor’s Business Daily.